Different stages in Life Insurance business process

krishnapunekar

Can you please help me in knowing what the different stages in Life Insurance business process are?

Example: Business may start with Quote or New Business (Policy)
After this, I would like to know, what happens?
Do claims /Underwriting come into picture?

I need to understand the entire business flow like, where does Claim, Underwriting etc... Fit in in the business process.

Also, If you have any pictures depicting the business flow in sequence OR if you know any site that depicts my cause, please help.

dunstonh

Its life assurance, not insurance.

Claims dont get involved unless you make a claim. Underwriting dont often get involved nowadays either with most immediate decisions being made by computer. Underwriting only tend to deal with the cases that cannot get an automated decision made.

How specific do you need the info and why?

krishnapunekar

I need to develop cases for Life Insurance
So, could you please tell me what is the life cycle of Insurance?

dunstonh

Your continued use of "insurance" instead of "assurance" suggests you are not British. Are you aware that this is a British site catering for those in the UK? What happens in this country will probably be different to yours.

krishnapunekar

I agree with you.
All I need is to know the Life cylcle of "Life Assurance".
Please update.